1. Make sure you're attending the right show

“You won’t make any money if no customers or prospects are there,” she says. While that may sound like a no-brainer, companies often go to shows simply because they’ve heard their competitors attend, says Stevens. To that end, always ask show organizers for a list of the companies planning to come.

Also, to make sure an event is worth attending you need a systematic method of measuring the potential return on investment. Stevens recommends dividing your total expenses by the number of conversations with qualified prospects you’re likely to have. Compare that number to the cost of other marketing options. You can use this as a benchmark for contrasting the effectiveness of one trade show vs. another.

2. If you're setting up an exhibit booth, think used or small

Instead of building a new booth, get a pre-owned one. According to Stevens, you can save more than 50 percent of the cost of a new exhibit.

Take Levelwear, a Toronto-based seller of golf apparel. According to Brett Saunders, Sales Operations Manager, to get ready for the upcoming Professional Golfers Association of America trade show in January, he recently bought two used exhibits; one, which originally sold for $92,000, cost $4,500. Another was $40,000 new and Saunders got it for $3,800. Even with another $10,00 or so in renovations, says Saunders, “It was an amazing money saver.”

At the same time, trade shows charge by the square foot, so you can save by downsizing your footprint. Specifically, consider building up -- say, attaching a sign to the roof of your exhibit or even building a second story.

3. Consider using a pop-up booth

To cut shipping and installation costs, buy booths that can be folded up easily into a carryon bag or mailed via UPS ground delivery. That way, not only do you eliminate the expensive charges for shipping the material, but you also avoid having to pay workers to unpack the stuff at the trade show location.

Case in point: Jim Dowd, co-owner of Beehive Kitchenware, which makes handmade home, kitchen and baby items, uses a booth with such features as hanging curtains instead of a regular wall and furniture that can be broken down easily into three pieces.

5. Keep your eyes peeled for subsidies

If you’re in the right industry, you might be able to get a helping hand. Take Rebeca Krones, owner of Tropical Traders Specialty Foods in Oakland, Calif.

She participates in the Western United States Agricultural Trade Association’s Branded Program, which, according to Krones, pays half of all trade show marketing and booth costs for products with 50 percent or more U.S.-grown ingredients.

7. Get a speaking gig

If you can sign on as a speaker, you won’t even have to pay an attendance fee. You’ll have to contact the show organizers in advance with a proposal for your speech.

To increase the chances of being accepted, says Stevens, you need original material -- and to make it clear you’re doing more than simply promoting your company. One approach: include a client in the presentation.